Mitt Romney's new plan to fix Social Security's solvency draws critics
Once the TRUST Act is passed, Treasury would have 30 days to deliver a report to Congress on the status of the funds.
The Social Security 2100 Act calls for increasing benefits, including a broad boost equal to 2% of the average benefit and a new minimum benefit that would be 25% above the poverty line. The bill would also gradually increase payroll taxes for all workers to 7.4% from 6.2% between 2020 and 2043.
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